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Mineral Exodus to probe cancer

IN its planned shift from minerals to healthcare and biotechnology research and development, West Perth-based Exodus Minerals is seeking shareholder agreement to change its name and divest itself of its minerals resources.

Its proposed name is Aust-ralian Cancer Technology Ltd.

It also announced the appointment of Professor Robyn Ward as a consultant in the role of chief scientific officer to the company.

These announcements follow the company’s acquisition from St Vincent’s Hospital in Sydney of a licence for the p53 cancer vaccine project.

Exodus, who declared its move from resources to health-related industries at its AGM last November, says the p53 project is based on globally recognised technology offering a wide range of applications in cancer treatment.

Managing director Dr Alistair Cowden said it was independently valued at 60-90 cents a share upon the commencement of trials in July this year. Building and capitalising on this technology platform, which also included an interest in the MS Bio-technology Multiple Sclerosis project last year, required a corresponding expansion of Exodus’ management, Dr Cowden said.

“The acquisition of the p53 project is a major milestone in the establishment of the company’s new vision and its long-term evolution in healthcare,” he said.

Subject to shareholder approval, the company proposes the name change to better reflect the company’s new focus on the development and discovery of drugs for cancer treatment.

Prof. Ward, an inter-nationally-respected leader in the field of cancer research, is head and founder of the Molecular and Cellular Oncology Unit at St Vincent’s Hospital.

Prof. Ward and her team discovered p53 human antibodies, the basis of the cancer vaccine, and will start clinical trials in July.

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